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Speaker 1: It's Tuesday, the seventeenth of March twenty twenty six. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning, Michael, Shawn.

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Speaker 1: Five stories, five minutes. Let's go with story number one.

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Speaker 1: The local share market hit a three month low yesterday

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Speaker 1: ahead of a likely hike in interest rates. This afternoon.

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Speaker 1: Miners was sold off as the price of gold fell

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Speaker 1: below five thousand US dollars an ounce, while the war

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Speaker 1: in the Middle East is keeping energy prices elevated. By

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Speaker 1: the close, the S and PA Sex two hundred was

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Speaker 1: down zero point four percent to eight thousand, five hundred

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Speaker 1: and eighty three points BHP four to Skew Metals, Rio Tinto.

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Speaker 1: They were all sold off. The gold stocks tumbled, Northern

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Speaker 1: Star was down five percent, Evolution was off more than

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Speaker 1: two percent.

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Speaker 2: In a pretty dramatic year for the market, Michael. The

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Speaker 2: Tech index so far in twenty twenty six is down

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Speaker 2: twenty two percent. It's been also been sold off on

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Speaker 2: Wall Street. The magnificent tech stocks are all lower this year.

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Speaker 2: The healthcare index on the ASEX has also been sold

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Speaker 2: off sharply on the back of an eighteen percent fall

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Speaker 2: from THESL since the beginning of the year, and the

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Speaker 2: property consumer discretionary indices of tumbled thanks to the prospect

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Speaker 2: of fire interest rates. However, if you're buying the Energy

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Speaker 2: index at the beginning of the year, you'd be pretty happy.

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Speaker 2: It's up twenty five percent, not just oil, not just gas,

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Speaker 2: but coal as well. Means the top twenty stocks on

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Speaker 2: the ASEX look a bit different to the beginning of

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Speaker 2: the year. BHP in the big four banks, they haven't

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Speaker 2: changed much. Woodside now top ten company, bigger than Telstra,

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Speaker 2: bigger than Rear, bigger than Goodman, No tech stops in

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Speaker 2: the top twenty. The one that's really surprising me Linus

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Speaker 2: Rare Earth. Its share price has triple over the past year,

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Speaker 2: tripled now the twenty fifth largest company on the burse,

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Speaker 2: worth about twenty one billion dollars.

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Speaker 1: And what's going on in the Middle East is having

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Speaker 1: an impact away from share markets as well. Got the

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Speaker 1: ABC reporting that demand the petrol bowser has surged thirty

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Speaker 1: five to forty percent in some areas, not necessarily because

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Speaker 1: there's a shortage, Shawn. But because people are basically filling

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Speaker 1: up everything they can find.

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Speaker 2: Ah, Jerry cans anything you've got to make matters worse.

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Speaker 2: South Korea, which applies about twenty one percent of our

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Speaker 2: refined fuel, has started capping how much its refiners can export.

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Speaker 2: They're going to look after themselves. Fair enough, Energy Minister

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Speaker 2: Chris Bowen and CIST supply remains secure. Questians getting a

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Speaker 2: little thinner Michael.

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Speaker 1: Yeah, we said it last week that when the politicians

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Speaker 1: are out there warning against panic buying facts right. Indeed, Okay,

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Speaker 1: moving on to story number two. Now it is rate

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Speaker 1: decision day and at two point thirty this afternoon, the

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Speaker 1: RBA is likely to tell us that rates will rise.

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Speaker 1: Bond market surprising in about a three and four chance,

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Speaker 1: all four big banks are tipping it. But the conversation

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Speaker 1: has shifted a little. You've got HSBC's Paul Bloxham, who

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Speaker 1: is a former Reserve Bank economist, writing that Australia's economy

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Speaker 1: basically needs a downturn to get inflation back to target.

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Speaker 1: He called it effectively the contraction we need to have.

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Speaker 2: Maybe it's a bit surprising that the bond market's hunting

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Speaker 2: priced in a seventy five per cent chance of a

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Speaker 2: rate high given the economists think it will happen. Yesterday,

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Speaker 2: Combanks common at a banking summit said the economy was

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Speaker 2: incredibly resilient, although OPRA, the regulator, warned that banks can't

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Speaker 2: be complacent about the war in the Middle East impact

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Speaker 2: on their businesses.

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Speaker 1: Story number three. This is a little bit worrying this one.

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Speaker 1: The corporate regulator is urging young Australians to sense check

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Speaker 1: the information they see online, as new research shows nearly

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Speaker 1: two thirds of gen z are using social media and

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Speaker 1: about one in five using AI to make decisions about

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Speaker 1: their financial future. Money Smart's gen Z study found that

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Speaker 1: while gen Z has a strong appetite for reputable and

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Speaker 1: trustworthy financial content, many of them actually struggle to find it,

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Speaker 1: and their search often leads them to sources that are

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Speaker 1: designed not for accuracy but more just for basically social

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Speaker 1: media engagement.

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Speaker 2: AH they need to come to the fast five from

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Speaker 2: fearing greed Michael. High levels of trust and often unreliable

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Speaker 2: sources by some young Australians is contributing to risk of

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Speaker 2: financial decisions. Besting in cryptocurrency was an example that asset

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Speaker 2: gave sixty three percent of gen Z respondents that's eighteen

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Speaker 2: to twenty eight year olds said they use social media

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Speaker 2: for financial information and guidance. Thirty percent used YouTube, eighteen

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Speaker 2: percent use AI platforms more than half of gen Z,

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Speaker 2: So there's somewhat or completely trust financial information on social

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Speaker 2: media and from influences fifty two percent. I'm not surprised

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Speaker 2: ASIG is worried.

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Speaker 1: Yeah, indeed, okay storry. Number four. US President Donald Trump

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Speaker 1: says that NATO faces a very bad future if US

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Speaker 1: allies fail to assist in opening up this strait of Homuz.

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Speaker 1: You've got Trump appealing to China, France, Japan, South Korea,

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Speaker 1: Britain and other countries as well to send warships to

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Speaker 1: keep the straight open, but none have made a commitment.

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Speaker 1: In fact, Australia yesterday confirmed it will not send a warship. Meanwhile,

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Speaker 1: the fighting continues and the Trump administration has said it'll

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Speaker 1: go on for four to six weeks and the ultimate

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Speaker 1: decision to end that lies with the US President.

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Speaker 2: Meanwhile, Israeli Prime Minister Benjamin Netanyahu posted a video on

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Speaker 2: social media yesterday in an attempt to refute rumors circulating

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Speaker 2: online that had been injured or killed. Iran's foreign minister

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Speaker 2: said the country had not sort of ceased fire or

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Speaker 2: negotiations with the US. Contradict I'll say that again, contradicting

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Speaker 2: claims by Donald Trump that Tehran wanted to make a

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Speaker 2: deal to buy temporarily halted flights at its main international

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Speaker 2: airports hours after a drone strike targeted facilities near the airfield,

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Speaker 2: and Trump also made veiled to Cuba, but said the

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Speaker 2: US was going to do Iran before it did Cuba.

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Speaker 1: Last one story number five, change of pace for this one.

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Speaker 1: Sean men are flooding into the beauty industry. We are

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Speaker 1: buying makeup, we are buying makeovers, and it's all thanks

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Speaker 1: to changing social attitudes and really glam brands that are

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Speaker 1: eager to explore this large, untapped market.

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Speaker 2: We were starting to appreciate the power of concealer Michael.

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Speaker 2: According to statistic data cited by CNBC twenty nine eight

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Speaker 2: lesson tempersent of US males war makeup twenty twenty four,

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Speaker 2: the number was twenty five percent likely be high. And

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Speaker 2: now the share of gen Z men who reported using

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Speaker 2: facial skincare products also jumped sixty eight percent over two

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Speaker 2: years to twenty twenty four. Retailers respondent bulking up their

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Speaker 2: men's offerings or dialing back gender distinctions for a more

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Speaker 2: neutral presentation. My favorite start on the topic. Turkey has

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Speaker 2: become a haven for men wanting hair transplants. Basically in

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Speaker 2: the US that costs twenty one thousand US in Turkey

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Speaker 2: about six thousand in US. You also get you know,

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Speaker 2: a luxury hotels, day airport, transportation, translators, sightseeing tours. In fact,

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Speaker 2: according to Turkish Health the Turkish Health Tourism Association, about

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Speaker 2: a million people travel to Turkey for hair transplants, spending

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Speaker 2: about two billion dollars each year.

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Speaker 1: Incredible, The Turkish rug is in hot demand. Sure, well done, Thanks,

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Speaker 1: well done. There we go the top five business stories

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Speaker 1: in five minutes. Thank you very much, Thank you Michael.

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Speaker 1: It is Tuesday, the seventeenth of March twenty twenty six.

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Speaker 1: Remember to hit follow on the podcast, and if five

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Speaker 1: minutes isn't enough, you can find our longer daily show

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Speaker 1: called Fear and Greed where if you listen to podcasts,

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Speaker 1: I'm Uncle Thompson and that was the fast five business

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Speaker 1: news by Fear and Greed. Have a great day,